How to strike a balance between TIGHT BUDGET & HIGH QUALITY in booking your 3 BHK flat in Hyderabad
A typical middle-class home buyer is price sensitive be it Hyderabad or elsewhere. Resources are limited, and sometimes the size of an apartment you can afford to buy may be lesser than what you wish for. When a situation like this arises, it is fine to compromise on size but NOT on the quality of construction.
Let’s put a scenario, and tell you what would be a wiser option, if you have a fixed budget of, let us say, Rs. 65 lac in the city of Hyderabad.
Scenario for buying a 3 BHK flat in Hyderabad-
In the example above, you have a fixed budget of Rs 65 lacs. One builder is charging more (Rs 4000 per sft), and another builder is charging less (Rs 3700 per sft).
In this example, let us assume that you have two options to choose from-
- Option1- smaller 3 BHK flat when the rate per sft is higher because of HIGH QUALITY
- Option2- bigger 3 BHK flat when rate per sft is lower with lower specifications, but MORE SPACE
A high-quality builder is the one whose specifications in construction, and materials used is HIGH GRADE, HIGH QUALITY. This is a no-compromise approach builder, who likes to charges more for better specifications of items being provided.
On the other hand, the low-quality builder uses LOW-QUALITY SPECIFICATIONS and is willing to make compromises every step of the way. Thus, charging a lower price.
What should you do? Clearly, here the home buyer MUST GO FOR A SMALLER APARTMENT, and NOT COMPROMISE on quality.
Why is it important to be QUALITY & GRADE CONSCIOUS? Especially in a 3 BHK flat
In Hyderabad, we have various pockets in the city which are more in demand compared to others, primarily due to being closer to job hubs. Locality determines the price!
Location preference is usually guided by 3 elements- 1) being a job/employment hub, 2) shopping/entertainment/service hub, 3) education hub.
The good part about Hyderabad is that social infrastructure is well-developed across Hyderabad. So, the only major consideration is the employment hub. If your place of work is a criteria, you could find a place that is a little farther away, and cheaper on LOCALITY COST, but HIGH on QUALITY CONSTRUCTION.
With quality construction, we mean ‘use of branded materials used for all the elements that go into the making of an apartment.
Finding the right location within your budget
The only way you can do so is to KEEP QUALITY FACTOR CONSTANT. DO NOT COMPROMISE on that!
Look for the high-quality specifications your money can buy, and make your search in the locality of your choice. Gain adequate knowledge of construction processes, and the various elements that go into making specifications of a building. This alone can help you understand the difference between GOOD and POOR quality specifications.
Let us take another example- Assuming that your workplace is near the Secunderabad railway station or Begumpet area, you could explore the Sainikpuri, Yapral, A.S Rao Nagar belt. Within this area too, you may get builders next to each other offering competitive and differential rates.
Check who matches with your QUALITY SPECIFICATIONS, and NOT focus on rate per square feet in isolation.
A decently spacious 3 bhk flat would cost around Rs. 65 to 75 lacs, and could measure between 1600 sft to 1800 sft in the Sainikpuri-Yapral belt.
What a home buyer needs to understand is-
- Spend more for better quality if possible. A PLUS 5 or 10 lacs would normally mean better grade & quality in the same area
- A home buyer must evaluate and compare what EXTRA one is getting in terms of QUALITY SPECIFICATIONS, by spending that 5 or 10 lacs EXTRA
- A MINUS 5 or 10 lacs could mean lower grade & quality. Hence, do NOT go with average or below average quality leading to a sub-par home. You are bound to LOSE on QUALITY when you pay 5 or 10 lacs LESSER
- Clearly, the BUILDER WILL NOT SHED MONEY OUT OF THEIR OWN POCKET to give you CHEAP & BEST options…The best options are never available cheap!
- If extra 5 or 10 lacs is NOT possible, go for a smaller, LESS SPACIOUS APARTMENT instead. Under no circumstance should you FOREGO a builder who offers better quality, higher grade specifications & processes for making your dream home.
Lucrative offer and price deals are a result of builders cutting corners on grade and quality specifications.
Excellent low-priced deals are often low quality, low cost, low dependability, low durability product. A sum of ALL THESE LOWS results in a POOR DEAL.
The approach to differentiating good quality from poor quality is to conduct a thorough and good comparison of all the grades & quality-related specifications. Dig deeper into the construction process and rigour applied by the builder.
This will help identify the differences in GRADE & QUALITY of offering by builders in your selected area. The result is that YOU WILL NOT FALL PREY TO LOW-COST, LOW-QUALITY home for your loved ones.
To know more about “Tips on evaluating QUALITY vs. PRICE- a ‘wise approach’ before booking your 3 BHK flat in Hyderabad” Click here